I'll sit back and take the dividend if so, but what are the odds that Intel will go under 15 and never return at some point in the next several years? 30 percent? 15 percent?
Intel borrowed $6b a couple months ago and the market charged them 70 basis points above treasuries. The credit swaps are priced to imply a near zero probability.
Are you saying that means the probability of it going under 15 and staying there forever is near zero?